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Monday, 11 August 2014

Closing Summary, Market Synopsis: 11th August, 2014

Key benchmark indices rose nearly 1 percent on Monday to snap a three-day losing streak after auto stocks such as Mahindra and Mahindra surged on healthy earnings, while strength in global shares on easing tensions over Ukraine also helped. The Nifty rose 0.76 percent, or 57.40 points, to end at 7,625.95, closing above its technically important 50-day moving average at 7,616.74. Realty stocks gained after Securities and Exchange Board of India (SEBI) on Sunday approved the setting up of real estate investment trusts (REITs), a move that may offer a new source of financing to India's cash-strapped property developers.

The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 28 advances to 21 declines, 1 unchanged.